US apparel chain Abercrombie & Fitch saw shares in the company dive yesterday (3 November) as sales slowed in the company's European flagship stores.

The share price was down 19.93% at the market's close to US$59.26 a share, after the young fashion brand reported a 21% increase in third-quarter sales to reach US$1.1bn.

International sales, including direct-to-consumer were up 56% to $255.7m, while US sales were up 14% to $820.2m.

Total comparable store sales for the quarter were up 7%, with a 4% rise for Abercrombie & Fitch, 6% for Abercrombie Kids and 8% for Hollister Co.

The company said same-store sales for the quarter reflected an acceleration in the trend for US chain stores, which was more than offset by a slowing trend in Europe, including negative comps for flagship stores. Japan and Canada also recorded negative comparable sales.